Carroll County Property Taxes
The median property tax rate in Carroll County is 2.34%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Carroll County, the typical annual property tax bill reaches $2,178, which is below the national median of $2,690. Property taxes in Carroll County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Carroll County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in a city like Savanna or another part of Carroll County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carroll County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Carroll County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carroll County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Carroll County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Carroll County, Illinois
Property taxes in Carroll County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Carroll County is 2.34%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Carroll County set these rates annually, and they can vary significantly between different areas within the county. Each year, Carroll County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Polo has one of the higher property tax rates in Illinois at 3.11%, while the city of Lanark boasts one of the lowest at 1.96%. Analyzing how Carroll County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Carroll County Tax Rate
2.34%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carroll County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chadwick | 1.61% | 2.16% | 2.60% | 3.13% | 3.64% |
| Lanark | 1.53% | 1.82% | 1.96% | 2.10% | 2.71% |
| Milledgeville | 1.87% | 2.36% | 2.76% | 3.22% | 3.63% |
| Morrison | 2.28% | 2.38% | 2.56% | 2.73% | 2.84% |
| Mount Carroll | 1.59% | 2.14% | 2.63% | 3.11% | 3.66% |
| Polo | 2.30% | 3.01% | 3.11% | 3.39% | 4.04% |
| Savanna | 1.39% | 2.00% | 2.64% | 3.52% | 3.94% |
| Shannon | 1.30% | 1.68% | 2.02% | 2.34% | 2.63% |
| Thomson | 1.63% | 2.15% | 2.55% | 2.92% | 3.14% |
Source: Ownwell
Property Tax Assessment Values Across Carroll County, Illinois
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Carroll County, Illinois. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Carroll County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Carroll County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Polo has the highest median tax bill at $5,002, while Savanna has the lowest at $1,472. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Carroll County, Illinois
Source: Ownwell
$54,285
$121,495
$188,704
Average Carroll County Assessed Value
$86,910
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carroll County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chadwick | $39,516 | $59,438 | $82,540 | $120,868 | $177,372 |
| Lanark | $54,950 | $87,830 | $188,704 | $358,329 | $611,698 |
| Milledgeville | $43,501 | $61,940 | $84,815 | $119,550 | $168,865 |
| Morrison | $77,391 | $81,142 | $87,395 | $93,648 | $97,399 |
| Mount Carroll | $35,626 | $54,208 | $83,770 | $125,520 | $174,892 |
| Polo | $72,204 | $119,040 | $147,510 | $227,870 | $274,202 |
| Savanna | $21,404 | $34,707 | $54,285 | $86,880 | $131,176 |
| Shannon | $42,767 | $63,231 | $94,401 | $139,517 | $190,349 |
| Thomson | $30,248 | $54,240 | $90,400 | $136,812 | $183,867 |
Source: Ownwell
Property Tax Bills Across Carroll County, Illinois
Property tax bills in Carroll County, IL, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Various factors, such as property size, location, and improvements, are considered to determine this value. Homeowners in Carroll County experience a range of tax bills. For instance, the 25th percentile tax bill is $1,214, while the 75th percentile tax bill reaches $3,938. Those in the 90th percentile can see tax bills as high as $7,124. Comparatively, the city of Polo has the highest median tax bill at $5,002, whereas Savanna has the lowest at $1,472. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting homeowners. With the national median property tax rate at 0.99%, understanding how these taxes are calculated can help homeowners better manage their financial planning and anticipate their annual tax obligations.
Average Carroll County Tax Bill
$2,178
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Carroll County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chadwick | $776 | $1,285 | $2,179 | $3,477 | $5,731 |
| Lanark | $1,003 | $1,818 | $3,873 | $7,312 | $12,131 |
| Milledgeville | $890 | $1,535 | $2,362 | $3,579 | $5,826 |
| Morrison | $1,779 | $1,966 | $2,279 | $2,592 | $2,779 |
| Mount Carroll | $649 | $1,243 | $2,181 | $3,624 | $5,565 |
| Polo | $1,879 | $3,578 | $5,002 | $7,077 | $11,014 |
| Savanna | $411 | $763 | $1,472 | $2,419 | $3,771 |
| Shannon | $645 | $1,104 | $1,900 | $3,033 | $4,969 |
| Thomson | $635 | $1,193 | $2,217 | $3,601 | $5,353 |
Source: Ownwell